PRINCE2 Principles

Question 1

What are the 7 principles?

Answer 1

1. Ensure continued business justification
2. Learn from experience
3. Roles & responsibilities
4. Manage by stages
5. Manage by exception - tolerances
6. Focus on products
7. Tailor to suit

Question 2

What does ‘ensure continued business justification’ mean?

Answer 2

The BC is consistently reviewed by the PM/PB to ensure it is always relevant. The reasoning must be validated throughout

Question 3

What does ‘learn from experience’ mean?

Answer 3

A lessons log, lessons report is always needed to learn from. All experience on the project should be recorded

Question 4

What does ‘manage by stages’ mean?

Answer 4

All projects must have the IP stage and at least one other.
Stages help the PM manage the project - cannot go through to another stage without passing the MSB controls (end stage report, next stage report)

Question 5

What does ‘manage by exception’ mean?

Answer 5

This refers to the tolerances which are allowed per the 7 controls. The business sets tolerances for the project, the PB sets tolerances for stages

Tolerances are often reviewed, and exception plans can be made

Question 6

What does ‘establish roles and responsibilities’ mean?

Answer 6

All stakeholders/teams need to know what is expected of them - a team structure needs to exist

Question 7

What does ‘tailor to suit the project’ mean?

Answer 7

The methodology is made to be tailored. Must be recorded in the PID. The PM is responsible for tailoring

Heroic PM is bad